Alkemy Capital Investments PLC, in its half-year report on Wednesday, noted ‘strong outcomes’ from testwork at its Teesside refinery and said the market fundamentals are still ‘highly favourable’ despite current ‘volatility’.
Nonetheless, shares in Alkemy were 4.3% lower at 241.10 pence in London on Wednesday afternoon.
The critical minerals-focused investor reported a pretax loss of £1.1 million for the six months ended July 31, widened from £677,049 the year before.
Administrative expenses rose 34% to £756,298 from £563,812, while finance costs multiplied to £210,638 from £22,059. Alkemy also swung to a £10,895 foreign exchange loss, from a £667 gain.
‘This period has marked a pivotal phase in Alkemy’s development as our wholly owned subsidiary, Tees Valley Lithium (TVL), advances through the Front-End Engineering Design (FEED) study for its flagship lithium hydroxide refinery in Teesside,’ commented Non-Executive Chair Paul Atherley. ‘The FEED study is now fully funded and underway representing a major step towards achieving Final Investment Decision (FID) in early 2026.’
Early results from the study, he noted, ‘have already delivered strong outcomes’, and investor interest ‘remains strong’ for TVL: Atherley said the firm is ‘engaged with several potential strategic investors’.
Atherley continued: ‘Market fundamentals remain highly favourable...while global lithium markets remain in transition, demand for refined lithium chemicals in Europe is expected to rise sharply through 2030, driven by more than 700GWh of battery manufacturing capacity either operating or under construction.
‘Despite short-term pricing volatility, underlying demand fundamentals remain robust.’
He added: ‘Alkemy remains focused on advancing TVL through the FEED study to FID, while continuing to evaluate future opportunities across the broader battery-materials sector.’
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